The ultimate goal of all forms of marketing is a return on investment (ROI).
In digital marketing, this means securing a profitable return from your website, paid ads, or other internet marketing campaign.
The symbiotic goals of measuring and quantifying this return should be something that your business and marketing team hold in equally high regard. Whether you are responsible for your company’s marketing or you are working with an agency, it’s important to monitor the campaign’s progress with quantifiable goals.
Quantifying ROI in digital marketing
KPIs (key performance indicators) are a type of performance measurement, often evaluating the success of an activity such as digital marketing. You’ll want to identify your website KPIs before you jump in to your strategy.
The ability to easily quantify and attribute the source of your return on investment is critical. After all, how will you replicate success if you don’t know how you achieved it? KPIs help you market smarter, not harder, and guide you in determining where to invest your time and money.
ROI metrics will vary based on the nature of the business and the campaign, and your KPIs. For some businesses, that ROI may be search engine ranking and brand exposure; for others it may converting website visitors into customers. It could even be as simple as purchases of a product or a service.
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